Debevoise & Plimpton LLP has advised Compre, the Bermuda headquartered international legacy group, in its agreement with SiriusPoint Ltd. (“SiriusPoint”), for a ground-up Loss Portfolio Transfer (“LPT”) on a diversified portfolio of primarily reinsurance business.
The LPT covers approximately $1.3 billion of reserves, underwritten by SiriusPoint’s international reinsurance business headquartered in Sweden, and its Lloyd’s Syndicate 1945.
The transaction’s inception is subject to regulatory approvals and other conditions of closing.
For full details, see the official release here.
Debevoise has previously advised Compre on a number of transactions, including the launch of its Lloyd’s legacy syndicate 1994 (see here).
The Debevoise team advising Compre was led by international consultant Clare Swirski, and included international counsel Benjamin Lyon, counsel Matthew Parelman, and associates Laura Jackson, Joey Kaminsky and Francis Walters.